The film is an ensemble romantic comedy of errors and mistaken identities and debts to be repaid.

Jeetu (Shahid Kapur) is a small town hustler who is constantly in debt and dodging creditors and moneylenders. His father Jayved Prasad, a respectable retired school teacher and his fiancée Pooja (Sushma Reddy) are made to suffer the consequences of his instability and his debts. Everyone including Pooja's father Mohan tells Jeetu, that it would be better if he were to kill himself as he keeps getting his family into trouble. He doesn't feel that he is worthy of Pooja and encourages her to marry someone else, which she doesn't agree to.

Jeetu then jumps into the sea trying to drown himself so that his family gets to claim his life insurance and pay off some of his debts. Jeetu is found entangled in fishing nets by a pair of fishermen Bandya (Paresh Rawal) and Gundya (Rajpal Yadav) who take him home with them. One of the fishermen, Gundya, owes money to Prabhat Singh Chauhan, a Gujrati businessman. On discovering Jeetu caught like a mermaid in their nets, they read a note in Jeetus pocket that leads them to assume that he is a millionaire and they hatch a scheme to give Jeetu's services to Prabhat Singh Chauhan (Om Puri) in exchange for the money that they owe.

Jeetu, sensing he may reveal too much, plays safe and pretends to be a deaf-mute and plays along with them. Complications ensue when Chauhan's niece Shruti (Kareena Kapoor) also turns out to be a mute but not deaf. Her over protective elder brother, Mangal Singh Chauhan (Suniel Shetty), is trying to get her married but the engagement is called off, leaving her in disgrace. Jeetu's secret is revealed one night when Shruti and her cousin Meenakshi (Neha Dhupia) discover him drunk and singing. They agree to keep his secret in return he agrees to play a part in getting a greedy bridegroom to cancel his marriage to Shruti. For this he has to pretend to be Shruti's lover.

Meenakshi comes to realize that Jeetu owes people a lot of money. Jeetu appears to her as a person who could do anything for money. In the interim, Meenakshi's uncle Prabhat Singh Chauhan is involved in an accident while carrying a lot of cash and Jeetu was with him all the while. Meenakshi tells the police of her suspicions about Jeetu and the police beat him up. Later Prabhat Singh comes home saying that it was Jeetu who had actually save his life by taking him to the hospital at the right time. The girls change their opinion of Jeetu after seeing this behavior and Shruti confesses her love for him.